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Government officials indicated their preference for appointing a Swiss banking heavyweight to run the combined bank during the weekend when the rescue deal was negotiated.

The bank continues to relocate staff following a pause during Covid-19 and is also in the process of moving some products, she said.

The head of the Council of Federal Home Loan Banks argues that the special lien status of Home Loan bank advances, created by legislation in the 1980s, is largely irrelevant in today's marketplace.

The Dallas-based bank, whose shares have slumped 19% this year, laid off the staff last week, according to a spokesperson.

The recent failures highlighted that regulation has to be applied consistently for all banks and financial intermediaries, according to Orcel.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Securities and Exchange Commission Chairman Gary Gensler emphasized the connection between the cryptocurrency market and the recent banking crisis in testimony on Capitol Hill. He seeks more resources to police crypto firms whose business model, he says, is "noncompliance."

The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.

With once-in-a-generation levels of inflation whittling away at their savings, Americans are once again beginning to fall behind on payments, bank earnings show.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.